MW: Treasurys up as worries about Japan, Europe remain
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices rose on Monday, pushing yields down, as traders remain uncertain about the outlook for growth as Japan tries to recover from its earthquake and tsunami last week, keeping up interest in the relative security of U.S. debt. Also, the European Union still has unaddressed problems regarding its peripheral members while continued war in Libya and Saudi troops entering Bahrain, where protests continue, have kept oil prices up. "The unfolding events in Japan, the Middle East and with the EU debt crisis should, in sum, keep a soft cap on Treasury rates," said strategists at RBS Securities. Yields on U.S. 10-year notes (UST10Y 3.38, -0.03, -0.76%) , which move inversely to prices, fell 3 basis points to 3.38%.
